Two Sigma Investments LP Has $2.07 Million Holdings in Open Text Co. (NASDAQ:OTEX)

Two Sigma Investments LP raised its stake in shares of Open Text Co. (NASDAQ:OTEX - Free Report) TSE: OTC by 483.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 72,906 shares of the software maker's stock after buying an additional 60,406 shares during the quarter. Two Sigma Investments LP's holdings in Open Text were worth $2,065,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Blue Trust Inc. grew its holdings in Open Text by 40.8% during the fourth quarter. Blue Trust Inc. now owns 1,373 shares of the software maker's stock valued at $39,000 after purchasing an additional 398 shares during the period. Choreo LLC acquired a new position in shares of Open Text in the 4th quarter valued at $564,000. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in shares of Open Text in the 4th quarter valued at $2,810,000. Vest Financial LLC acquired a new position in Open Text in the fourth quarter valued at about $267,000. Finally, Wilmington Savings Fund Society FSB grew its stake in Open Text by 15.2% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 17,253 shares of the software maker's stock valued at $489,000 after acquiring an additional 2,270 shares during the period. 70.37% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on OTEX shares. National Bankshares decreased their target price on Open Text from $38.00 to $34.00 and set a "sector perform" rating for the company in a research note on Friday, April 25th. BMO Capital Markets decreased their price objective on Open Text from $30.00 to $28.00 and set a "market perform" rating for the company in a research report on Friday, May 2nd. Barclays reduced their price target on shares of Open Text from $36.00 to $29.00 and set an "equal weight" rating for the company in a report on Monday, April 21st. Citigroup upped their price target on shares of Open Text from $29.00 to $43.00 and gave the company a "negative" rating in a report on Friday, May 2nd. Finally, CIBC dropped their price target on Open Text from $33.00 to $31.00 and set a "neutral" rating on the stock in a research note on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $32.30.

Open Text Stock Up 0.5%

NASDAQ:OTEX traded up $0.15 on Wednesday, hitting $28.51. 835,447 shares of the company's stock were exchanged, compared to its average volume of 862,402. Open Text Co. has a 52 week low of $22.79 and a 52 week high of $34.20. The company has a market cap of $7.38 billion, a P/E ratio of 11.59 and a beta of 1.15. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.87 and a quick ratio of 0.87. The firm has a 50-day moving average price of $26.49 and a 200-day moving average price of $27.58.

Open Text (NASDAQ:OTEX - Get Free Report) TSE: OTC last posted its quarterly earnings results on Wednesday, April 30th. The software maker reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.01. Open Text had a net margin of 12.21% and a return on equity of 23.23%. The firm had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same period in the prior year, the firm posted $0.94 earnings per share. The company's quarterly revenue was down 13.3% compared to the same quarter last year. As a group, analysts expect that Open Text Co. will post 3.45 EPS for the current fiscal year.

Open Text Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be issued a $0.2625 dividend. This represents a $1.05 annualized dividend and a yield of 3.68%. The ex-dividend date of this dividend is Friday, June 6th. Open Text's dividend payout ratio is currently 42.86%.

Open Text Company Profile

Open Text Corporation provides information management software and solutions. The company offers content services, which includes content collaboration and intelligent capture to records management, collaboration, e-signatures, and archiving; and operates experience cloud platform that provides customer experience and web content management, digital asset management, customer analytics, AI and insights, e-discovery, digital fax, omnichannel communications, secure messaging, and voice of customer, as well as customer journey, testing, and segmentation.